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I beg to differ. Sure, most of these are risky markets but they are not the 13 riskiest. In Fresno, prices are up 111% in 5 years, Washington, DC is up 93%. Not only that but as the article itself admits "It's increases in federal spending, which support a strong job market." The strong job market is a big part of the huge price appreciation in Washington, DC. Fresno, CA is much riskier then Washington, DC. Where is Fresno on this list? Which markets do you think are the riskiest?

9 comments:

Yah..Where is Fresno and most of the Central valley as well?...We are Agriculturally based and hence incomes are lower then the big urban areas.Add to that chronic high unemployment usually in the double digits and you get an area that can't sustain 20-30% yearly RE gains.. I have been the naysayer around here at the office for awhile always pointing out that job and income growth just aren't there and if you get an raise it is offset by Health care and now by shoring up our defined benefits. Just a thought

I'm surprised that Hawaii wasn't mentioned. Granted, it took longer for prices to start taking off after the RE slump they had been in.

As a side note: On a recent trip, I was seated next to a guy who turned out to be a flipper. We talked for a couple of hours. He was headed home from Hawaii after purchasing a couple of very small lots (he showed me the county maps and dimensions, nothing special) that he intended to hold on to for about a year, fully expecting to double his money. And for only __ million!

Reno. The appreciation there over the past several years has been incredible and totally unsupported by job or income growth. They are counting on Californians to continue being the bigger fools, as the locals know better than to buy into this market. The Californians are either getting wise or running out of capital. This is a desert; they're not running out of land, but they're running out of water. Reno is going to pop loudly.